Allied World Global Markets expands casualty team, Van Ede joins Aon Risk Solutions as head of business development, global trade credit, Cunningham Lindsey creates Miami hub to serve region, HDI-Gerling UK launches engineering and energy division and MAPFRE RE extends presence in Asia Pacific.
The massive explosions at the Chinese port of Tianjin last month will be a major talking point for marine underwriters, brokers and other experts at the upcoming annual International Union of Marine Insurance (IUMI) conference starting on 13 September in Berlin. Those gathered will also focus on the growing threats posed by accumulation risk, huge container ships, cyber attacks and the ongoing soft market.
Three weeks on from the series of explosions that ripped through the Chinese port of Tianjin the extent of damage and disruption remains unclear, however Guy Carpenter has placed insured losses up to $3.3bn and ratings agencies suggest that the eventual toll will likely top the initial $1bn to $1.5bn figures released immediately after the blasts.
The fatal terrorist bombing in Bangkok last week is unlikely to prompt a reaction from terrorism insurers, but companies should be vigilant until more is known about the perpetrators, experts say.
The series of devastating blasts that ripped through the Chinese port city of Tianjin last week have caused significant damage and supply chain disruption, landing Chinese and western insurers with a sizable bill and affecting many companies worldwide.
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC) forecasts far fewer tropical cyclones and landfalls in the Western North Pacific Basin than average in 2015 as El Niño conditions take hold.
Gallagher opens Asia-Pac practice to push boundaries of rep risk management and takes major stake in Chilean firm
International broker Arthur J Gallagher has launched a new reputational risk practice in the Asia Pacific and strengthened its Latin American position by purchasing a majority shareholding in independent Chilean retail broker Bareyre Corredores de Seguros SA (Bareyre).
Allied World Assurance Company Holdings, AG has completed its acquisition of Royal & Sun Alliance Insurance Plc’s Hong Kong and Singapore operations for approximately $193m.
AGCS North America and Fireman’s Fund name new leadership team, JLT opens credit, political & security risk India hub and Barbican appoints new cyber and tech underwriter.
Gallagher to enter Chinese specialty market via joint venture with Jiang Tai, Swiss Re Corporate Solutions names Marc Davis as country manager UK & Ireland, JLT to buy Hayward Aviation for £27m, Brokerslink appoints Corey Gooch to drive global business development, Robert Latimer joins ACE as env risk underwriter for UK & Ireland, IUA appoints new director for London market modernisation projects and Cunningham Lindsey upgrades iSite video claims system.